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Govt invites global bids for divestment of PDIL, HLL Lifecare

Govt invites global bids for divestment of PDIL, HLL Lifecare

The last date for submission for bids is January 31 for both state-owned entities.

During the current financial year 2021-22 so far, Rs 9,329.90 crore has been obtained through a minority stake sale in CPSEs as well as selling SUUTI stake. During the current financial year 2021-22 so far, Rs 9,329.90 crore has been obtained through a minority stake sale in CPSEs as well as selling SUUTI stake.

The finance ministry on Tuesday invited global bids for the strategic sale of Projects & Development India Limited PDIL and HLL Lifecare Limited as part of the disinvestment process. 

The last date for submission for bids is January 31 for both the state-owned entities.

"GoI invites Expression of Interest (EoI) for Strategic Disinvestment/Privatisation of Projects & Development India Limited PDIL. Last date for receiving EoIs:31.01.2022," DIPAM said tweet.

PDIL is a Miniratna Category-1 public sector undertaking under the administrative control of Department of Fertilizers, Ministry of Chemicals & Fertilizers, Government of India.

The company is primarily engaged in providing engineering and consultancy services in design, engineering and related project execution services from concept to commissioning of various projects.

As of March 31, 2021, PDIL has the paid-up equity share capital of Rs 17.30 crore, revenue of Rs 142.17 crore and net profit of Rs 31.83 crore.

"GoI invites Expression of Interest (EoI) for Strategic Disinvestment/Privatisation of HLL Lifecare Limited (HLL). Last date for receiving EoIs:31.01.2022," Department of Investment and Public Asset Management (DIPAM) said in another tweet.

The HLL is a Miniratna PSU under the administrative control of the Union Health Ministry. It was incorporated in the year 1966 under Companies Act, 1956, and is fully owned by the Government of India.

In another tweet, DIPAM said the government has respectively received about Rs 188 crore, Rs 370 crore and Rs 58 crore from NALCO, Power Finance Corporation and Cochin Shipyard Ltd as dividend tranches.

Besides, Electronics Corporation of India Ltd has paid about Rs 54 crore while Mazagon Dock Shipbuilders Limited and MIDHANI has paid Rs 31 crore and Rs 22 crore respectively as dividend tranches, it said.

During the current financial year 2021-22 so far, Rs 9,329.90 crore has been obtained through a minority stake sale in CPSEs as well as selling SUUTI stake.

The process of privatisation of BPCL, Pawan Hans, BEML, Shipping Corp of India (SCI), Neelachal Ispat Nigam Ltd and RINL is ongoing.

The Budget for 2021-22 has set a disinvestment target of Rs 1.75 lakh crore. Of this, Rs 1 lakh crore is to come from selling government stake in public sector banks and financial institutions, and Rs 75,000 crore will come as CPSE disinvestment receipts.